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Students studying at the University of Texas at San Antonio downtown campus could have another nearby housing option by the fall, if a project announced Monday comes to fruition.

A 12,000-square-foot warehouse at 511 El Paso St. a few blocks south of the campus will be converted into a housing cooperative for up to 40 students, according to developer Michael Spencer.

Residents would pay $500 to $550 a month for a 200-square-foot room, including meals. They would perform some labor at the facility and vote in operational matters. Students would not necessarily have to attend UTSA, Spencer said.

Renovations will begin in coming weeks, with the goal of having students move in by fall semester. Ultimately, the project will encompass the whole block and include retail and commercial spaces as well as more traditional housing for 50 to 60 more students, Spencer said.

Several other student housing sites are being developed near downtown, including the Birdsong Peanut Factory Lofts at 1025 S. Frio St., also near UTSA, and the Tobin Lofts at San Antonio College on North Main Avenue.

Ray Flores, Westside Development Corp. executive director, said the co-op will be in a corridor connecting downtown to the West Side and “draw more interest and young people to the area.”